CalPERS OKs Hikes in Insurance Premiums
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The board of the California Public Employees’ Retirement System approved low-double-digit increases in health insurance premiums for its more than 1 million members.
The hikes averaged 11.6% for health maintenance organization participants and 12.6% for users of preferred provider networks.
The board also endorsed a recommendation from its health committee to not raise members’ co-payments during the 2007 benefit year. The decision to freeze current co-payments, which was expected, is projected to cost taxpayers about $55 million.
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